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The closed circuit television (CCTV) market size is forecast to increase by USD 16.56 billion at a CAGR of 13.64% between 2023 and 2028. The market expansion hinges on multiple factors, notably the escalation of government security initiatives aimed at safeguarding public and private spaces. Additionally, the integration of facial recognition technology into CCTV cameras enhances surveillance capabilities, augmenting security measures. Moreover, the growing demand for IP-based CCTV cameras underscores the market's evolution towards advanced, networked surveillance solutions. These trends reflect a collective emphasis on enhancing security infrastructure, driving the adoption of cutting-edge technologies to address contemporary security challenges effectively. As such, the market is poised for further growth and innovation in the realm of video surveillance. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.
The market is experiencing significant growth, driven by rising safety concerns and the need for security solutions across various sectors, including hospitality, BFSI, and commercial infrastructure. With crime rates on the rise, demand for advanced CCTV systems, such as IP cameras, motion detector cameras, and biometric technologies, is surging. Key players like Bosch Security and Vicon are innovating with features like TandemVu technology and CMOS technology to enhance surveillance capabilities.
Market opportunities are expanding in both public and private sectors, particularly in rural areas where traditional security measures may be lacking. Competitive rivalry is heightened, with new entrants posing a threat to established brands, while buyer and supplier bargaining power influences pricing analysis. The market outlook remains positive, supported by macro-economic factors and the shift towards contactless and touchless solutions. As digital video recording capabilities improve, CCTV systems are evolving to address suspicious activities effectively, ensuring comprehensive safety and security solutions.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The dome camera segment is estimated to witness significant growth during the forecast period. The CCTV market encompasses the use of surveillance cameras in both public and private spaces, including retail stores, hotels, banks, and offices. With increasing concerns over terrorism and security, the demand for advanced CCTV technologies has grown. Companies offer various types of cameras, such as high-definition, equipped with facial recognition software and night vision capabilities. These cameras can be wired or wireless, using digital technology and IP networks to enable remote monitoring and control. Cloud-based storage systems facilitate the storage and retrieval of recorded footage. Traffic-related applications include vehicle movement detection, enforcement activities, traffic violation detection, tolls, and parking charges.
Authorities utilize CCTV for traffic monitoring on roads and highways to ensure safety and address potential security threats. The cost-effectiveness and integration with IT sector technologies make CCTV an essential tool for property security, deterring crime, and providing evidence for incidents.
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The dome camera segment was valued at USD 6.38 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The CCTV market in APAC is thriving due to heightened security concerns in public spaces, including airports and shopping centers, as well as private ones. Companies are investing in advanced CCTV technologies such as high-definition cameras, facial recognition software, and cloud-based storage systems to enhance surveillance. Technologies like AI, IoT, deep learning, and machine learning are driving adoption. Infrastructure development for smart cities and urbanization are significant factors. Major Chinese companies, like Hikvision and Dahua, offer AI-enabled cameras. CCTV is used for terrorism prevention, traffic-related applications, vehicle movement monitoring, enforcement activities, and incident detection. Cost-effective solutions include analogue cameras, wired and wireless types, and digital technology via IP networks and the Internet. Remote monitoring and control enable real-time recorded footage access. CCTV deters crime, provides evidence, and aids in crowd control. Potential security threats necessitate continuous innovation.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing government security initiatives is the key driver of the market. The CCTV market has experienced significant growth due to escalating security concerns, including terrorism and crime. Governments and authorities worldwide have responded by installing surveillance systems in both public and private spaces. Companies are investing in advanced technologies such as high-definition cameras, facial recognition software, and cloud-based storage systems. These technologies enable real-time monitoring and remote control, allowing for effective traffic-related applications, vehicle movement tracking, enforcement activities, and traffic violation detection. Tolls, parking charges, and fees are also being monitored through CCTV systems. Highways, roads, and other public places are being secured with these cameras, which can deter crime, provide evidence, and aid in incident investigation.
Moreover, the IT sector plays a crucial role in the development and implementation of these systems. Analogue and wired camera types are being replaced by digital technology and IP networks, making CCTV systems more cost-effective and efficient. Remote monitoring and control, recorded footage, and potential security threats are all essential aspects of this market.
Introduction to deep learning technology is the upcoming trend in the market. The CCTV market encompasses the use of surveillance cameras in both public and private spaces to ensure security and safety. With the rise of terrorism and potential security threats, the demand for advanced CCTV technologies has flooded. Companies are integrating high-definition cameras, facial recognition software, and cloud-based storage systems into their CCTV offerings. These technologies enable remote monitoring and control, as well as the ability to review recorded footage. In public spaces, CCTV is used for crowd control, incident monitoring, and behavior analysis. In private spaces, it deters crime and serves as evidence in case of an incident. Advanced CCTV systems can be used for traffic-related applications, such as vehicle movement monitoring, traffic violation detection, tolls, and parking charges.
Moreover, technologies like multi-dimensional perception, AI, deep learning, and cloud technology are being employed by companies to enhance the capabilities of CCTV cameras. These cameras can be wired or wireless, analogue or digital, and can be connected to an IP network or the internet for remote access. The cost-effectiveness and ease of use offered by these technologies have made them increasingly popular in the IT sector, particularly for traffic monitoring on roads and highways. Authorities use CCTV for enforcement activities and incident response, making it an essential tool for maintaining order and security.
Cyber security risks is a key challenge affecting the market growth. The CCTV market encompasses the use of surveillance technologies in both public and private spaces to ensure security and safety. With the rising threat of terrorism and cybercrime, the demand for advanced CCTV systems has flooded. Companies are investing in high-definition cameras, facial recognition software, and cloud-based storage systems to enhance security. CCTV systems are increasingly being used for traffic-related applications, such as vehicle movement monitoring, toll collection, and parking charges. Technologies like digital technology, IP networks, and the internet enable remote monitoring and control of cameras. Authorities use CCTV for enforcement activities, traffic violation detection, and crowd control. However, potential security threats, such as hacking and malware attacks, pose challenges.
However, the companies must secure their systems with firewalls, antiviruses, and malware protection tools. The market includes various camera types, such as analogue, wired, and wireless, and the adoption of digital technology continues to grow. CCTV systems offer cost-effectiveness, deter crime, provide evidence for incidents, and help monitor behavior. The IT sector and property management are significant industries driving the growth of the CCTV market.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Axis Communications AB - The company offers security cameras, video encoders, accessories, access controls, and others.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In the realm of security and surveillance, CCTV (Closed-Circuit Television) systems have become an indispensable tool for businesses and individuals alike. The CCTV market is thriving, driven by technological advancements and increasing security concerns. CCTV technologies include cameras, DVRs (Digital Video Recorders), Terrestrial TV, VMS (Video Management Systems), and various types of lenses. Marketers promote CCTV systems as a means to deter crime, enhance safety, and improve operational efficiency. Technologies such as motion detection, night vision, and remote access add to their appeal. Companies offer various types of CCTV systems, including wired and wireless, HD-SDI, and IP-based systems. Additionally, cloud-based storage solutions provide convenience and flexibility. CCTV systems are used in various sectors, including retail, healthcare, education, transportation, and government. With advancements in AI and machine learning, CCTV systems can now provide real-time analytics and insights, making them an essential investment for modern businesses and organizations.
Market Scope |
|
Report Coverage |
Details |
Page number |
182 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.64% |
Market growth 2024-2028 |
USD 16.56 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
11.73 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 48% |
Key countries |
China, US, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ADT Inc., Axis Communications AB, Cisco Systems Inc., CP PLUS International, Dahua Technology Co. Ltd., Digital Watchdog, GeoVision, Hangzhou Hikvision Digital Technology Co. Ltd., Hanwha Corp., Honeywell International Inc., IDIS Ltd., Lenovo Group Ltd., LG Corp., MOBOTIX AG, Panasonic Holdings Corp., Robert Bosch GmbH, Sony Group Corp., Teledyne FLIR LLC, UNIX CCTV Corp., and Zhejiang Uniview Technologies Co. Ltd. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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